FINANCIAL ISSUES - MARITAL PROPERTY V. SEPARATE PROPERTY
My brother filed for divorce in NY from his wife and since then my Dad passed away and myself and my siblings have inherited my Dadís home. My brother wants to buy us out and live in the house. Can his wife make a claim on the house once it's in my brother's name? Should us siblings wait till his divorce is final and then sell him the house?Answer:
Your brother's portion of the inheritance, including his share of the house, if kept in his name only and
separate and apart from his commingled funds, are NOT "Marital Property" and his wife would have no claim to them.
However, as you rightly are concerned, if he uses money he earned during the marriage, or commingled funds to buy you and the remaining siblings out, that portion
Of the purchase price IS Marital Property and the wife would have a claim to that portion.
Best thing, as you suggest, is to wait until the divorce is final, there is an Order of divorce signed by the judge and the Order is filed with the County Clerk.
Leonard Weiner, Esq.